MarineMax (NYSE:HZO) Shares Gap Up Following Earnings Beat

MarineMax, Inc. (NYSE:HZO) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $27.94, but opened at $31.89. MarineMax shares last traded at $30.67, with a volume of 99,851 shares changing hands.

The specialty retailer reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.31. MarineMax had a net margin of 1.57% and a return on equity of 5.09%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com raised MarineMax from a “sell” rating to a “hold” rating in a research note on Friday. DA Davidson reduced their price objective on MarineMax from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of MarineMax in a research note on Friday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, MarineMax currently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Institutional Investors Weigh In On MarineMax

Hedge funds have recently made changes to their positions in the business. Oliver Luxxe Assets LLC purchased a new position in MarineMax during the fourth quarter worth about $1,316,000. JPMorgan Chase & Co. lifted its holdings in shares of MarineMax by 8.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer’s stock worth $413,000 after acquiring an additional 905 shares during the period. XTX Topco Ltd acquired a new stake in shares of MarineMax in the third quarter worth approximately $236,000. Systematic Financial Management LP purchased a new stake in MarineMax in the third quarter valued at approximately $183,000. Finally, RBF Capital LLC grew its holdings in MarineMax by 55.9% in the third quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock valued at $3,299,000 after purchasing an additional 33,544 shares during the period. Institutional investors and hedge funds own 92.85% of the company’s stock.

MarineMax Stock Down 4.8 %

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34. The stock has a market cap of $699.08 million, a price-to-earnings ratio of 18.67 and a beta of 1.89. The firm’s 50-day moving average is $29.64 and its 200 day moving average is $31.23.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.